has a new Buy rating from Oppenheimer analyst Colin Rusch. He calls the company a leader in last-mile delivery solutions and established a new $23 price target for shares, up about 25% from recent levels.
Workhorse’s vehicles serve a market estimated at around $18 billion and has consumers who are unwilling to compromise on service.
The analyst believes the company is in a strong position to win the U.S. Postal Service contract for upgrading its delivery fleet of 165,000 vehicles, valued at $6.3 billion.
“Workhorse’s HorseFly drone is the only Unmanned Aerial Systems (UAS) that can be launched remotely from a last-mile delivery vehicle,” Rusch wrote in the note, adding that this advantage is protected by patents and can potentially lower last-mile delivery costs.
Workhorse inked an intellectual property licensing agreement with EV startup Lordstown Motors. As Workhorse scales manufacturing, it could leverage Lordstown’s capacity to reduce capital needs, he noted.
barrons.com/articles/workhorse-is-becoming-wall-streets-favorite-electric-vehicle-stock-51599146870?siteid=yhoof2
finance.yahoo.com/news/workhorse-edge-among-ev-delivery-183017807.html
Workhorse’s vehicles serve a market estimated at around $18 billion and has consumers who are unwilling to compromise on service.
The analyst believes the company is in a strong position to win the U.S. Postal Service contract for upgrading its delivery fleet of 165,000 vehicles, valued at $6.3 billion.
“Workhorse’s HorseFly drone is the only Unmanned Aerial Systems (UAS) that can be launched remotely from a last-mile delivery vehicle,” Rusch wrote in the note, adding that this advantage is protected by patents and can potentially lower last-mile delivery costs.
Workhorse inked an intellectual property licensing agreement with EV startup Lordstown Motors. As Workhorse scales manufacturing, it could leverage Lordstown’s capacity to reduce capital needs, he noted.
barrons.com/articles/workhorse-is-becoming-wall-streets-favorite-electric-vehicle-stock-51599146870?siteid=yhoof2
finance.yahoo.com/news/workhorse-edge-among-ev-delivery-183017807.html
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.